AVIC invested in the CAS-backed industrial internet-of-things satellite operator Commsat's latest round to bring its overall funding to $68.2m.

Commsat, a China-based commercial satellite operator backed by Chinese Academy of Sciences, has secured RMB270m ($38m) of series B funding from investors co-led by aerospace manufacturer Aviation Industry Corporation of China, China Money Network reported yesterday. Asset management firm Beijing Wealth Capital co-led the round. Aviation Industry Corporation of China participated through an unnamed subsidiary…

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